Big Bank to Deny Financing Projects That Use Eminent Domain

A reader sent a note to me pointing out the encouraging story in the New York Times today about "BB&T, the nation's ninth-largest financial holding company, announc[ing] yesterday that it would deny loans to developers building shopping malls and other private projects on land acquired through eminent domain." That's good news - although not necessarily news that the New York Times itself might support. Notice the last line of the story, which notes that "The New York Times Company used eminent domain to acquire the land for its new headquarters under construction in Midtown." I guess we can at least be happy the Times reported the story in the first place, considering it's history.

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